Record Date Announced For 1:1 Bonus Share & 990 Per Cent Returns: Multibagger Textile Stock Hit 52-Week High Today
The company has a market cap of Rs 159 crore and the stock gave multibagger returns of 990 per cent from its 52-week low of Rs 32.02 per share.
Padam Cotton Yarns Ltd. has announced a 1:1 bonus issue, meaning shareholders will receive one additional equity share for every one share they currently hold. This will double the company's outstanding shares from 38,73,000 to 77,46,000 while maintaining the same total equity value of Rs 7,74,60,000. The board fixed the record to for bonus shares as Wednesday, January 08, 2025.
Padam Cotton Yarns Ltd., established in 1994, is a company specializing in the production of cotton yarn and consulting services. Their primary product is Tow Dyed, Bulked Acrylic Yarn, manufactured using advanced Tow-based technology sourced from Japan Exlan. Beyond yarn production, the company offers valuable consultation services to the textile industry and engages in wholesale trading of agricultural pumping sets and implements.
DSIJ’s ‘Micro Marvel' service recommends micro-cap stocks with the potential to grow multifold in long run. If this interests you, do download the service details here.
On Thursday, shares of Padam Cotton Yarns Ltd gained 1.93 per cent and made a new 52-week high of Rs 348.95 per share from its previous closing of Rs 342.35 per share. At 01:15 PM, the stock hit a 2 per cent lower circuit to Rs 335.55 per share. The company has a market cap of Rs 159 crore and the stock gave multibagger returns of 990 per cent from its 52-week low of Rs 32.02 per share. Investors should keep an eye on this textile stock.
Disclaimer: The article is for informational purposes only and not investment advice.